Christy is a telemarketer. She estimates that this summer, she has a 0.2 probability of earning $10,000, a 0.5 probability of earning $5,000, and a 0.3 probability of earning only $1,000. What is Christy's expected income?
A) $7,256
B) $5,333
C) $4,800
D) $4,000
C
You might also like to view...
The figure above shows the costs for a grower in the perfectly competitive turnip market. If the price is $1,200 for a ton of turnips, the firm is
A) making an economic profit. B) making zero economic profit. C) incurring an economic loss. D) More information is needed to determine if the firm is making a positive economic profit, zero economic profit, or incurring an economic loss.
In the United States, the current dollar price of transplantable organs is: a. zero
b. indeterminate. c. determined by the market mechanism. d. dependent on the supply of organs.
Based on average statistics, at which age is Brad most likely to be earning some of the highest wages of his life?
a. 22 b. 32 c. 52 d. 72
Best National Bank operates with a 20 percent required reserve ratio, but has substantial excess reserves. One day a depositor withdraws $500 from his or her checking account at this bank. As a result, the bank's excess reserves:
A. fall by $500. B. fall by $400. C. rise by $100. D. rise by $500.